Updated Two-Unit
New
For Sale
$249,900
Pending
1501 S 29th Street, Waco, TX 76711
MULTI_FAMILY - Waco, TX
Property Size1,658 SF
Lot Size0.17 Acres
Days on Market2
Property Features for 1501 S 29th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
Driveway
Interior features
HighSpeedInternet, OpenFloorplan, CableTv
Appliances
ElectricWaterHeater, Disposal, GasRange, Refrigerator
Subdivision
Wheeler
Elementary school
Bell's Hill
Middle school
Cesar Chavez
High school
University
Elementary school district
Waco ISD
Middle school district
Waco ISD
High school district
Waco ISD
Directions
Heading East on Valley Mills Dr., turn Left onto Park Ave. Turn Right onto S 29th St. Property will be on your right.
Standard status
Pending
APN
197218
Size
1,658 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty, Waco
(254) 751-7900
Listed By:
Brad Harrell · License #363789
(254) 751-7900
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 5 at 8:06PM
MLS# 21172996
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex at 1501 S 29th Street contains 1,658 square feet, with approximately 829 square feet in each unit. The property was built in 1985 and features brick construction, laminate flooring, central heating and cooling, ceiling fans, open floorplans, and driveway parking. Appliances include gas ranges, refrigerators, disposals, and electric water heaters.
Capital improvements include foundation work completed in 2025, new HVAC systems, new water heaters, and updated flooring. In April 2026, the composition roof and gutters were replaced. Public water and sewer serve the property, and each unit includes cable TV and high-speed internet features.
The duplex is zoned C-2 Commercial in Beverly Hills and sits near a heavy retail corridor, adjacent to South Waco Park. Its location is within Waco, Texas, in McLennan County.
Capital improvements include foundation work completed in 2025, new HVAC systems, new water heaters, and updated flooring. In April 2026, the composition roof and gutters were replaced. Public water and sewer serve the property, and each unit includes cable TV and high-speed internet features.
The duplex is zoned C-2 Commercial in Beverly Hills and sits near a heavy retail corridor, adjacent to South Waco Park. Its location is within Waco, Texas, in McLennan County.
Key Highlights
- Two‑unit duplex with 1,658 SF total and approximately 829 SF per unit
- Foundation work completed in 2025
- Roof and gutters replaced in April 2026
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $22.5k | $13.56 |
| − Vacancy | −$2.0k | −$1.19 |
| EGI | $20.5k | $12.37 |
| − OpEx | −$6.2k | −$3.71 |
| NOI | $14.4k | $8.66 |
1,658 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$205.2K
$179.5K – $239.4K
NOI $14,362 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$188.8K
$165.2K – $220.3K
NOI $13,215 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$437.4K
$382.8K – $510.3K
NOI $30,620 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 76711, TX
9,806
Population
4,143
Households
2.4
Avg Household Size
33
Median Age
17%
College-Educated
78%
High-School Grad
4.0 sq mi
ZIP Area
2,452
Density / Sq Mi
$52,617
Median Household Income
$33,989
Median Earnings
$1,314
Median Rent
$112,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Recent improvements include foundation work, HVAC systems, water heaters, flooring, roofing, and gutters.
Where is this duplex located?
The property is located at 1501 S 29th Street Waco, TX.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,658 SF total and approximately 829 SF per unit; Foundation work completed in 2025; Roof and gutters replaced in April 2026
